8b Process costing, joint products and by-products 26 mins The following data relates to questions 8b. 1 and 8b.2. A company manufactures two joint products, P and R, in a common process. Data for June are as follows. $ Opening inventory 1,000 Direct materials added 10,000 Conversion costs 12,000 Closing inventory 3,000 Production Sales Sales price Units Units $ per unit 4,000 5,000 5 6,000 5,000 10 8b.1 If costs are apportioned between joint products on a sales value basis, what was the cost per unit of product R in June? $1.25 $2.22 $2.50 $2.75 (2 marks) 8b.2 If costs are apportioned between joint products on a physical unit basis, what was the total cost of product P production in June? $8,000 $8,800 000 0 $10,000 $12,000 (2 marks)